TMSG attributes 3.46% GDP growth to efficacy of Tinubu’s economic reforms

The Tinubu Media Support Group (TMSG) has described the 3.46 per cent growth in Nigeria’s GDP for the third quarter of 2024 as further proof of the efficacy of the economic policies of the President Bola Tinubu administration.

In a statement signed by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, the group noted that the Q3 2024 figure is a reflection of progressive economic growth since the beginning of the year.

“We are excited by the latest Gross Domestic Product (GDP) data released by the National Bureau of Statistics NBS, which showed that that the economy grew by 3.46 per cent in the third quarter of 2024.

“It is 0.27per cent more than the 3.19 per cent recorded in the second quarter of the year, 0.48 per cent more than 2.98 per cent in the first quarter of 2024 and nearly one percent more than the 2.54 per cent GDP figure of the same period last year.

“This, for us, is a reflection that the economic policies of the Tinubu administration are beginning to yield fruitful dividends.

“As it was in previous quarters, the services sector was the primary driver of growth, contributing 53.58per cent to the GDP.  It grew by 5.19per cent higher than the 3.99per cent recorded in Q3 2023 in what is the largest year-on-year improvement among all the broad sectors.

“We recognized this as a notable development in the Bola Tinubu era just as the   entire non oil sector contributed 94.43per cent compared to 5.57perr cent from the oil sector in Q3 2024, “it explained.

TMSG added that the GDP growth rate is an indication that President Tinubu is building a more resilient and time-tested economy.